Land Home Financial Services is aiming for local lending with a big heart.

The new-to-Sioux Falls mortgage bank offers a donation to a local non-profit organization with every closing, said branch manager Eric Anderson.

“Every loan that we fund, that we close, we give $300 to a local 501(c)3 non-profit organization, and the borrower gets to pick which non-profit that it goes to,” he said. “That $300 is given to the non-profit on behalf of the borrower, and us, as Land Home.”

Land Home Financial Services is a privately owned company based in Concord, Calif., and has been in business since 1988. Anderson's management and processing team is in the Minneapolis area.

But the bank is new to South Dakota and will look to expand in the area and the state, with a Sioux Falls office grand opening today.

“This is the first location in Sioux Falls and the state, with more to come, of course,” Anderson said. “That’s the plan.”

Land Home Financial Services is a mortgage bank newly opened in the Sioux Falls market, with plans to expand.(Photo: Jeremy Fugleberg/Sioux Falls Business Journal)

Land Home Financial is a mortgage bank, not a brokerage. It services nearly all the loans it writes. Mortgages are often sold off to others for servicing, but not at Land Home, Anderson said.

“You don’t know until you get the letter in the mail who you’re going to be writing the check to all the time,” he said. “Here, the customers that close with us, they’re going to be writing their mortgage payment to Land Home Financial Services. We are their local contact on that, and that’s why one of our taglines is ‘your preferred community lender.’

“That’s a big deal. It’s hard to be a preferred community lender in a community if we write the loans and then send them off to some big bank down the street,” he said.

Anderson has lived in Sioux Falls since 1989, entered mortgaged financing in 2001 and has mostly worked in mortgages since. He most recently worked for Home Federal Bank before becoming the branch manager for Land Home in January. The Sioux Falls office opened in April.

Anderson is joined in Land Home's Sioux Falls office by production administrator Kimberly Lang. Anderson said he expects two new loan officers to start soon.

The mortgage business is very strong," he said. "With over 5,000 people moving here a year, they have to live somewhere, and they're not all going to live in an apartment."

Land Home Financial Services is located at 3220 W. 57th St., Suite 100B. The business phone number is 605-231-5690.